The homeowners insurance crisis in Florida is attracting new companies to invest in the sector as others close shop.
Florida is facing a homeowners insurance crisis.The state has the highest premiums in the country, which has forced residents to give up their coverage, with some contemplating relocation and selling their properties. Meanwhile, several providers have bolted out of the state, blaming high costs as a result of increased risks brought about by more frequent extreme weather events in the state.However, some see the situation as an investment opportunity.
The company aims to write $475 million worth of insurance premiums by 2028, the Miami Herald reported, for an average customer premium of $4,775.'We firmly believe that this venture presents an extraordinary chance to achieve exceptional returns in an environment of change and growth,' the outlet quoted the company's pitch as saying.Newsweek reached out to Gruters via email for comment.
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